[ANN][ICO]🌱SMARTLANDS - ✅first tokensale on 🚀Stellar! SLT is listed on SDEX

[PhilMorrison1]

Dear Smartland Team,

Since I'm involved in agriculture business myself, I find the idea of this project quite interesting. However, after reading the white paper I still have questions how this could work on practice:

1) In the white paper you say that key assets of the target companies would be transferred to escrow as a collateral. I don't really understand what legal rights it would give to token owners. Can you show us a draft (smart?) contract between escrow and fund-raising company?

The legal framework will be developed in partnership with top legal advisors as both tokens and smart contracts are new to legislation and we would not risk investors  funds with legal framework that is not 100% correct.

2) What particular escrow company do you intend to use?

Escrow company will be incorporated by the Platform. The incorporation document (e.g. charter) will protect the interest of investors by not letting either the Platform or agricultural companies make any actions with the assets without prior consent of ABT holders.

3) When investor buys an asset-based token, does he sign any kind of (smart?) contract with escrow or your platform? If yes, please provide example of such contract. If no - how does your platform guarantee money return to investors if company they invested in appears to be a scam?

The Platform will set high standards for audit and examination of a company prior to an ABT issue, therefore “scam” companies will not even have a chance to issue tokens (at least within the Platform). Should the company default on its obligations, the collateralized assets will be transferred to ownership of the escrow company and sold consequently. The proceeds will be provided to the token holders.

In the nex post, I'll cover the rest questions...

[PhilMorrison1]

Dear Smartland Team,

Since I'm involved in agriculture business myself, I find the idea of this project quite interesting. However, after reading the white paper I still have questions how this could work on practice:

4) On the example of your walnut orchard project, how exactly would investors receive their share of profit from the walnut sale? To make this work properly, all sales of walnut should be written on blockchain too. Do you have smart contract that will split the profit among all token holders?

With wide acceptance of cryptocurrencies and blockchain technologies it is a good idea to implement smart contract for automatic distribution of part of revenue (and profit), but currently we believe legal mechanism that will be in place with collateral agreement, public offer and so on is more reliable and practical way to handle the issue. It is not easy to make such legal framework and even harder for potential investors to access it and to check for possible risk. And that s where Platform kicks in and make the process way easier and more reliable for both parties with standardized and proved solution.

5) How the investors can monitor on what their money was spent by fund-raising companies?

First of all, the Platform will provide additional transparency of operations with IT solutions that will collect the data from agricultural companies so it will be easier to monitor the progress in every way including money spent by the companies raised during an ICO. The information will be provided in reports that will be in line with regulations for other public companies and additionally set in legal framework. In case of non-compliance with the rules fines, legal prosecution of executives, or loss of ownership for collateralized assets may apply to the company depending on the magnitude of the violations.

6) Is there any real usage of blockchain in the project at the moment, except for raising funds though ICO?

Creation of new class of low-risk tokens and building the infrastructure for cryptoinvestors seems to be a good reason enough to qualify for “real usage of blockchain” 
The rules of the Platform will be set by the SLT tokenholders through democratic organization principles implemented with blockchain technology (providing confidence for all the participants that results of voting cannot be corrupted). The same relates to the ability of the ABT holders to make decisions with voting that differs them from ABS.

Looks like the project requires a lot of coding and drafting of smart contracts. Please provide GitHub link where we can read some code.

This part of project will be published on further stages of ICO

[PhilMorrison1]

What is the minimum investment?

Minimum investment in presale - 5 ETH

Bonus: Amount in ETH
12%: 10-20
15%: 20-50
20%: 50-100
25%: >100

How does that 5 ETH work then?

Presale bonuses will be amended soon to include an option for smaller crowdsale participants starting from 5 ETH.
Thank you for your interest!

[zuzuca]

this project is very interesting..i will join this...and also the sig campaign

[AlexPavl]

What happens if a disaster vanishes or destroy tokenized assets who will cover my losses?

[zuzuca]

where is the sig for upload? coud not find it anywhere.

[QueenOfCrypto]

where is the sig for upload? coud not find it anywhere.

I also didn't find your signatures. I've joined your bounty campaigns but found a mistake you have done, will PM about.

[PaulSal]

You declare your platform as a regulation authority on the agro-market, don't you?

[PhilMorrison1]

this project is very interesting..i will join this...and also the sig campaign

We appreciate your attention. All signatures appeared in bounty campaign on Monday, 11.
Post was updated immediately, we keep working to make your life easier

[PhilMorrison1]

where is the sig for upload? coud not find it anywhere.

I've answered, take a look at a few posts before...
Bounty Bitcointalk is named as "[BOUNTY][ICO] Smartlands | tokenization of agro assets"
in the Alternative coins, Marketplace, Bounties threads

[PhilMorrison1]

You declare your platform as a regulation authority on the agro-market, don't you?

We are rather a voluntary certification with rules set by the community, but the idea is to establish common transparent rules for agricultural companies and investors. In fact, it will be kind of authority.

[Dimyumy17]

I can not wait for ico from this project because I see this project is very much interested and certainly ico will be successfull.good luck

[PhilMorrison1]

If it is ICO, how can we receive assets? Isn't it a prerogative of an IPO?

You won't receive assets, you receive tokens, that are legally linked to assets and give you the possibility to receive revenue/profit. Btw during IPO shares are sold, not assets anyway.

[PhilMorrison1]

I can not wait for ico from this project because I see this project is very much interested and certainly ico will be successfull.good luck

Thanks for your support, we appreciate it

[AlexPavl]

 Do I need a special wallet to keep your tokens?

[beatecoin]

Numbers of projects have emerged in the last period related to this project. What are your similarities and differencies to these projects.

[PaulSal]

If I buy tokens, can I change it for goods(products) of token issuer?

[beatecoin]

Do I need a special wallet to keep your tokens?

Tokens supports erc20. If you open a ethereum wallet in myetherwallet it will be enough.

[PhilMorrison1]

What happens if a disaster vanishes or destroy tokenized assets who will cover my losses?

It is not your loss directly but of the agricultural company. The return on ABTs is based on revenue and profit of the company, not the value of assets itself, though the correlation may strong. And the loss of collateral does not make the company free from obligations to tokenholders, but it does increase the risk for investors since collateral is a very good reason for the company to behave.
Of course, adverse events for the company will influence token holders through a decrease in revenues and profit. Nevertheless, it will be a requirement to insure the collateralized assets, and only some exemption for minor part of assets may be granted given specific reasons (e.g. unavailable insurance for some type of assets or inappropriate price) that will be disclosed to investors prior to ICO. If the insurance company repays the loss the whole amount should be used to acquire new assets for collateralization and subject to approval by ABT token holders (through voting)

[PhilMorrison1]

Is there any prepared strategy to monitor issued tokens? If their price falls down will I still have a chance to sell them? Where?

No sell (put) options are embedded in ABTs by default so you will not be able to sell those ABTs except for crypto exchanges, but adding such an option will be possible if a company issuing an ABT will be willing to do so. In worst case scenario like if an agricultural company take actions against token holders or default, the collateralized assets will be sold and proceeds will be distributed to token holders. Moreover, further legal activity could be initiated by ABT tokenholders through voting.